Gaming1 Acquires Belgian Operator Carousel in Full

^{Belgian operator Gaming1 has taken full ownership of Pac-Man NV, the company behind the Carousel casino brand. (Photo: Liège, Belgium / Wikimedia Commons)}

Belgian gambling group Gaming1 has acquired 100% of the shares in Pac-Man NV, the holding company behind the Carousel casino brand, in a deal completed on 22 September 2026. The company confirmed the transaction in a statement supplied to Casinos.com, describing Pac-Man NV as 'a long-standing partner with whom we have worked closely since 2012'.

The deal folds Carousel's licence and digital portfolio into Gaming1's existing Belgian operations. Gaming1 said the acquisition will strengthen its digital presence in the country and support its plans for a 'safe, responsible and distinctive offering' in the regulated market.

Integration Begins Immediately

According to the statement, Pac-Man NV's activities are being integrated into Gaming1 with immediate effect. The transaction does not involve the transfer of any employees, and the two companies say their teams are working together to manage the changeover.

Carousel operates under a B+ licence granted by the Belgian Gaming Commission, which covers online casino games, alongside a physical gaming hall in Hulste. The brand also runs Carousel.be, offering dice games, slots and roulette in French and Dutch.

'We believe this acquisition will further strengthen our digital presence in Belgium and enhance the fun and engaging entertainment experience we offer our players,' said Sylvain Boniver, Chief Operating Officer at Gaming1.

Part of a Wider Consolidation Trend

The deal is the latest in a series of ownership changes among Belgium's licensed operators, as the market's roughly two dozen B+ licence holders continue to consolidate. Grupo Cirsa's acquisition of a controlling stake in Peru's Apuesta Total earlier this year followed a similar pattern of established groups absorbing smaller, licensed brands rather than competing for new market entry.

Gaming1, headquartered in Liège, already operates several brands in the Belgian market, including Circus and Casino777. The Carousel deal adds another licensed vertical to that portfolio without requiring Gaming1 to apply for a new operating permit, since Pac-Man NV's existing B+ licence transfers with the acquired shares.

No Financial Terms Disclosed

Neither company has disclosed the value of the transaction. Gaming1's media team, led by Charlène Renier, confirmed the deal but did not provide further financial detail when contacted.

Casinos.com has reached out to the Belgian Gaming Commission to confirm the regulator's role in approving the change of ownership and will update this story if further information becomes available. You can read Gaming1's full statement on the acquisition here.

Belgium's licensed online gambling market remains one of the more tightly controlled in Europe, with the Belgian Gaming Commission capping the number of B+ licences available and requiring operators to route advertising and sponsorship through a set of nationally agreed rules. Bringing Carousel's existing, licensed footprint under Gaming1's ownership avoids the multi-year application process a brand-new entrant would face for a comparable permit.

Gaming1's decade-long partnership with Carousel before the acquisition means the two companies already shared technology and operational infrastructure, which the company says should make the changeover smoother than a typical arm's-length acquisition. Full integration of Carousel's player-facing products into Gaming1's wider platform is expected to be gradual, with no announced timeline for retiring the Carousel brand name itself.